Today's 3 Worst Stocks
The S&P 500 Index was hot today. The index rallied -- breaking the 1,700 mark for the first time ever -- as European Central Bank President Mario Draghi echoed the Federal Reserve's tone of preserving a low-interest rate environment. While the S&P finished at an all-time closing high after adding 1.3%, and ending at 1,706, not all of its individual components were so lucky. In fact, some of them performed rather horrendously.
Cosmetic powerhouse Avon Products fell 3.7% today after reporting quarterly profits that beat -- yes, beat -- expectations. Of course, that isn't the whole story: The company also revealed that regulators rejected Avon's $12-million offer to settle allegations of bribery in foreign markets. The investigation is proving to be an ongoing headache for the company and its shareholders; Avon first started looking into the matter back in 2008.
Meanwhile, Autodesk , which makes computer-aided design, or CAD, software, lost 3.2%, as Wall Street reacts to recent disappointments in the 3-D printing and innovative manufacturing arenas. CAD applications can be used to help users model and design the end product when using 3-D printers, and with one of 3-D printing's leaders, 3D Systems, disappointing on earnings Tuesday, that market may not be growing as quickly as Autodesk investors expected.
Lastly, solar-panel manufacturer First Solar lost 2.2% Thursday as its shares were also punished after another company's ominous quarterly results. The stock was hit by SunPower's report, specifically the part that projected at least $100 million less revenue in the current quarter than analysts were expecting. In a relatively nascent industry like solar power, each quarter is vitally important in gauging the commercial viability of the industry as a whole, and with First Solar set to announce earnings August 6, you can't blame shareholders for getting a little queasy following SunPower's underwhelming forecasts.
Major daily swings are going to happen in the stock market, guaranteed. But it's important to remain disciplined, and keep a long-term vision that ignores the noise. After all, your financial health is just as important as your personal health -- and we want to help you achieve your financial goals. The Motley Fool's special free report, "3 Stocks That Will Help You Retire Rich," names specific investment opportunities that could help you build long-term wealth, and help you retire well. The Fool also outlines critical wealth-building strategies that every investor should know. Click here to keep reading.
The article Today's 3 Worst Stocks originally appeared on Fool.com.Fool contributor John Divine has no position in any stocks mentioned. You can follow him on Twitter @divinebizkid and on Motley Fool CAPS @TMFDivine.The Motley Fool recommends 3D Systems. The Motley Fool owns shares of 3D Systems and has the following options: short January 2014 $36 calls on 3D Systems and short January 2014 $20 puts on 3D Systems. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.